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Rank #12USDSCrypto-Backed
Sky Dollar
Pegged to
USD
Market Cap
$4.50B
24h Volume
$100.00M
Circulating Supply
4.50B USDS
Total Supply
4.50B USDS
Peg Target
USD
Collateral Type
Crypto-Backed
Issuer
Sky (formerly MakerDAO)
Launch Date
18-09-2024
About Sky Dollar
Sky Dollar (USDS) is the upgraded stablecoin from the Sky ecosystem, formerly MakerDAO. It is the successor to DAI and is part of the broader Sky Protocol rebranding. USDS is minted through the same overcollateralised vault system as DAI and can be freely converted 1:1 with DAI. The Sky ecosystem introduced the Sky Savings Rate (SSR) for USDS holders and the SKY governance token as part of its evolution from the Maker Protocol. USDS aims to be more accessible and user-friendly while maintaining the decentralised, overcollateralised model.
Pros
- Built on battle-tested Maker infrastructure
- Earned yield through SSR
- Decentralised and permissionless
- Strong DeFi integration
Cons
- Brand confusion with DAI/Maker transition
- Governance complexity
- Early stage of rebranding adoption
- Dependent on Maker Vault system
Key Features
1:1 convertible with DAI
Sky Savings Rate (SSR) yield
Over-collateralised vault minting
Decentralised governance via SKY token
Multi-chain expansion
Real-world asset collateral integration
Stablecoin Information
Category
Crypto-BackedCollateral Type
Crypto-BackedIssuer
Sky (formerly MakerDAO)